SMFG To Set Up Funds For Growing Companies

SMBC Venture Capital., an investment unit of SMFG Group, announced that SMBC Venture Capital set up 3 private equity funds for a total of 14 billion yen. They are SMBC Venture Capital Fund #1 (8 billion yen) which is an orthodox VC fund, SMBC Business Development Fund #1 (5 billion yen) which is a buyout fund for SMEs, and SMBC Strategic Investment Fund #1 (1 billion yen) which invests in funds newly set up by universities or corporations. All investment money comes from Mitsui Sumitomo Bank.